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ROOLIFE GROUP LTD — Capital/Financing Update 2020
Oct 13, 2020
65712_rns_2020-10-13_2022417c-8c6d-4a58-81fb-3e539d25cef9.pdf
Capital/Financing Update
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14 October 2020
Entitlement Issue Shortfall Offer Completed
e-Commerce and digital marketing company RooLife Group Ltd ( ASX: RLG ) (“ RooLife Group ” or the “ Company ”) is pleased to advise that its Shortfall Offer under the recently completed Entitlement Issue has been completed with the full amount of $5,492,521 raised under the Entitlement Issue and Shortfall Offer.
Pleasingly, the demand for the Shortfall Offer was approximately $8.3m, far exceeding the $3,867,946 Shortfall on offer.
The strong support received for the Entitlement Issue and Shortfall Offer means RooLife is wellposition and funded to continue to expand RooLife’s marketing and promotion of its online stores in China with brands such as Small World Brands’ Nuria Beauty , SLG Brands’ COLAB Dry Shampoo and the recently announced Kiwi Health store operated with AFT Pharmaceuticals (ASX:AFP).
The Company is experiencing good take up and sales of products through its online stores in China and will immediately apply funding towards the continued growth of these stores through the December Quarter with a focus on the biggest online shopping event in the world – Double 11, or Singles Day, held on 11 November each year.[1 ]
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Figure 1:Nuria Beauty and COLAB Dry Shampoo Online Stores launched and positioned to benefit from the biggest online shopping event – Double 11 - Singles Day event in November.
The Company is preparing campaigns to market and promote the Kiwi Health Tmall online store, a New Zealand branded health & pharmacy store selling key AFT products on Alibaba’s Tmall platform in the current Quarter and to drive sales through this Quarter and ongoing.
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Figure 2: RooLife’s New Zealand branded health & pharmacy store – “Kiwi Health”
RooLife Group recognises and thanks its existing shareholders for their support and participation in the Entitlement Offer and welcomes a new group of investors as part of the Shortfall Offer and looks forward to continuing to update shareholders on the Company’s progress.
ENDS
Issued by : RooLife Group Ltd
Authorised by: The Board of RooLife Group Ltd
For further information, please visit the RooLife website at www.roolifegroup.com.au or contact:
Bryan Carr Peter Nesveda Managing Director Corporate Affairs & International Investor Relations Ph: +61 8 6444 1702 Ph: +61 412 357 375 Email: [email protected] [email protected]
About RooLife Group Ltd (ASX:RLG)
www.roolifegroup.com.au
The RooLife Group of companies provides fully integrated digital marketing and customer acquisition services focusing on driving online sales of products and services for its clients. Powered by the Group’s hyper personalisation and profiling Artificial Intelligence System, RooLife provides personalised real-time, targeted marketing. With a key focus on driving sales in Australia and China the company’s online e-Commerce marketplace assists businesses to sell directly to Chinese consumers and accept payment via the WeChat and Alipay mobile payments platforms. RooLife’s key positioning is about knowing and remaining connected with Chinese consumers, allowing brands to continually sell products to Chinese consumers based on their profiles and purchasing behaviours.